The Influence of Cognitive Biases and Financial Factors on Forecast Accuracy of Analysts.

ABSTRACT: The objective of this study was to jointly analyze the importance of cognitive and financial factors in the accuracy of profit forecasting by analysts. Data from publicly traded Brazilian companies in 2019 were obtained. We used text analysis to assess the cognitive biases from the qualitative reports of analysts. Further, we analyzed the data using statistical regression learning methods and statistical classification learning methods, such as Multiple Linear Regression (MRL), k-dependence Bayesian (k-DB), and Random Forest (RF). The Bayesian inference and classification methods allow an expansion of the research line, especially in the area of machine learning, which can benefit from the examples of factors addressed in this research. The results indicated that, among cogni

SUBMITTER: Nardi PCC 

PROVIDER: S-EPMC8764190 | biostudies-literature | 2021

REPOSITORIES: biostudies-literature